JD.com (NASDAQ:JD) Price Target Lowered to $38.00 at Bank of America

JD.com (NASDAQ:JD) had its target price dropped by equities researchers at Bank of America from $39.00 to $38.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Bank of America‘s price target indicates a potential upside of 26.80% from the stock’s previous close.

JD has been the topic of several other research reports. Morgan Stanley cut shares of JD.com from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research report on Monday. Benchmark decreased their price target on JD.com from $53.00 to $47.00 and set a “buy” rating for the company in a report on Monday, July 21st. Zacks Research upgraded JD.com from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Weiss Ratings restated a “hold (c)” rating on shares of JD.com in a report on Wednesday, October 8th. Finally, Arete Research set a $41.00 target price on shares of JD.com in a research report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, JD.com currently has an average rating of “Moderate Buy” and an average price target of $40.69.

JD.com Stock Down 2.4%

Shares of JD.com stock traded down $0.74 during trading hours on Friday, reaching $29.97. The company’s stock had a trading volume of 11,156,172 shares, compared to its average volume of 13,474,147. JD.com has a one year low of $29.28 and a one year high of $46.44. The company has a market capitalization of $42.93 billion, a P/E ratio of 8.43, a P/E/G ratio of 3.16 and a beta of 0.41. The stock’s fifty day simple moving average is $33.60 and its two-hundred day simple moving average is $32.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.90 and a current ratio of 1.22.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vident Advisory LLC boosted its position in shares of JD.com by 33.1% in the third quarter. Vident Advisory LLC now owns 28,650 shares of the information services provider’s stock valued at $1,002,000 after acquiring an additional 7,119 shares during the period. Lakewood Capital Management LP lifted its stake in JD.com by 29.1% in the 3rd quarter. Lakewood Capital Management LP now owns 443,850 shares of the information services provider’s stock worth $15,526,000 after purchasing an additional 100,000 shares in the last quarter. Dodge & Cox boosted its holdings in JD.com by 0.5% in the 3rd quarter. Dodge & Cox now owns 18,792,249 shares of the information services provider’s stock valued at $657,353,000 after purchasing an additional 86,300 shares during the period. Banco BTG Pactual S.A. purchased a new position in shares of JD.com during the 3rd quarter valued at $3,498,000. Finally, Quadrature Capital Ltd increased its holdings in shares of JD.com by 55.9% in the third quarter. Quadrature Capital Ltd now owns 282,479 shares of the information services provider’s stock worth $9,878,000 after purchasing an additional 101,250 shares during the period. Institutional investors own 15.98% of the company’s stock.

About JD.com

JD.com, Inc operates as a supply chain-based technology and service provider in the People's Republic of China. The company offers computers, communication, and consumer electronics products, as well as home appliances; and general merchandise products comprising food, beverage and fresh produce, baby and maternity products, furniture and household goods, cosmetics and other personal care items, pharmaceutical and healthcare products, industrial products, books, automobile accessories, apparel and footwear, bags, and jewelry.